US oil disaster costed us one billion dollars: BP

Published: Wednesday, June 2, 2010, 14:24 [IST]

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London, Jun 2: British Petroleum (BP), the British global energy company informed that the oil spill disaster in the Gulf of Mexico, caused it the loss of almost a billion dollars. The disaster plunged the company a 13 percent in its shares after the latest failed attempt to fix the leaking well.

BP's share price nose dived nearly 17 percent on the day though it recovered slightly to close at 430 pence. The disaster also wiped off more than 17.6 billion dollars (12 billion pounds) of its market value too, being the biggest one-day shares-fall since 18 years.

When US President Barack Obama warned that the culprits of the disaster would be held legally accountable, it was one more bad news for the company.

"The cost of the response to date amounts to about 990 million dollars, including the cost of the spill response, containment, relief well drilling, grants to the Gulf states, claims paid and federal costs. It is too early to quantify other potential costs and liabilities associated with the incident," said the company.